hello, welcome to "street signs. i'm carolyn roth these are your headlines european he can kwitd opened higher credit suisse is boosted by a number of broker upgrades. shares rise to 600 after amazon scoops up whole foods for $13.7 billion. the uk terrorism police say it is too early to tell the motive responsible for the attack outside a mosque in london, killing one person and

injuring ten more. now the hard work begins says negotiator david davis as he heads to brussels to begin brexit talks phillip hammond says there will be a clean break with the eu. >> we are leaving eu and we will be leaving the single market and by the way leaving the customs you know good morning, everyone it is monday, another scorcher of a day let's look at the european equity markets brexit talks begin the dax riding high by 1%. and the online groesher seen as a target of amazon has been given a rating other big retailers, they're rebounding from friday's

selloff, following amazon's takeover of whole foods. ocado up by 8.6% stick to bankening stocks. credit suisse at the top of the market thanks to broker upgrades analysts raised it and morgan stanley has coverage with overweights call share up by almost 3%. let's switch gears another sad event overnight. london metropolitan police says too early to say whether a death at finsbury park was caused by the attack by a van driver that drove into a crowd of worshippers leaving a mosque ten are injured, two very seriously. senior national coordinator for uk counter terrorism police said the incident was being treated as a terrorist attack. >> the attack unfolded whiels is it a man was receiving first aid from the public at the scene and sadly that man is gone

any positive link between his death and attack wilfred come from our investigation too early to say if this death was a result of this attack. this is being treated as a terrorist attack and counterterrorism command is investigating. this was an attack on london and all londoners and we should all stand together against he extremists, whatever that cause. >> what exactly do we know about the attacker and possible motive >> reporter: very little at this point. we know a 48-year-old man was taken into custody and undergoing mental health assessment as a nearby hospital. beyond that, don't have a great amount of detail shortly after midnight, he was suspected to be driving a van down this road behind me, aiming at pedestrians on the pavement on the sidewalk, 8 of them treated for their injuries by

three nearby hospitals two treated on the scene unfortunately as you heard that commissioner there, one of the individuals had been pronounced dead on the scene. we don't know whether that is a direct consequence of this attack but have seen a funeral van go in behind me presumably to pick up the body of that particular individual. we also know all those effected in this attack were muslims, during ramadan, few days left until end of holy month, people out late at night, breaking fast at 9:30, then series of prayer calls over the course of the night. we know a lot of people milling here were the target of the attack seemingly, we will get more details about the investigation as the day unfolds. >> i said all of the victims are from the muslim community, saw that in the wake of london bridge attacks, there's arise in hate crime against muslims, plenty of islamaphobia is it too early to say whether

the motive could be connected to that >> reporter: yeah, without any definitive information i think it is irresponsible to speculate on that. we've heard from commission of metro police now, she said they'll be on duty in this area, helping reassure the local community, they'll be here as long as they're needed she said you'll see additional officers patrol the city, and at muslim place fs worship. the met working hard to protect all of london's communities and, quote, we will not be defeated >> thank you for thaupt. appreciate it. let's move on. airbus revealed an upgraded model called a380 plus speaking at the paris air show, said changes lead to 13% reduction in cost perfect sheet. global demand for fuel efficient kraufts.

phil lebeau joins us now >> reporter: thank you very much bring in john cougar, ceo of air lease corp they were talking about demand and whether or not demand for fuel efficient aircraft is out there. you see no slow down in international travel, people going on flights. >> not at all. we see a strong continued demand 7.9% increase year to date that's been going on several years. that fundamental demand is driven by the number of people getting on airplanes which continues to grow and grow the demand for fuel efficient airplanes to drive, competitiveness of airlines, cost efficiencies continue, unabated. >> do you see them wanting more single aisle airplanes trying to stretch into new markets or look at the wide body, we're in a period we see a little consolidation but fan over time? >> the single market segment will be the lion's share of this

industry, that demand wilfred contin there's concern about wide body. you look globally in asia, more airports are being completely congested. >> is it the growing middle class in asia and india that's driving demand >> it is and wealth it created in the developed economy, united states economy is doing very well, but certainly i would say developing middle class, particularly in asia, is driving a lot of that growth. >> where does the slow down come at some point you will see recession whether in the u.s. or other parts of the world, does that drop demand or it might pause but not drop. >> we don't think it will drop

may have a few months where it lagged, but in the past 20 years, only had two or three occasions overall passenger travel leveled off from year to year, but the following year it took off and grew more we see it as a temporary measure. >> talk about a couple of specific planes. comed out of china, had the first flight a few months ago. when did they become a rival they have to pay attention to. >> we see that on the 15 to 20 year horizon. >> couple of generations. >> yes but the chinese are dedicated to it, they have the resources, they will learn. >> the other issue, dennis mullenburg talked about the possibility of hypersonic jets two hours to fly anywhere in the world. you know the economics of flying >> yes. >> is there enough demand for that >> at the right economics, yes, there probably would be. the problem is it is difficult

to see, maybe dennis is a smart guy, runs a big company, lot of things in the works. it is hard for me to see today at least in the next 15 to 20 years that will be so cost competitive, it will kpcompel te to take a stab. >> talked about the air carriers, like norwegian air, they're just getting ramped up. >> to their credit, they're reenergizing the concept of honk haul local marketplace we will see how they do. they made a big stab, are going globally they're one to watch >> guys, when you want to find out what's driving demand, what people are looking for when they go through the airlines, john is one of the people that can give you a snapshot of the industry, if you will. back to you. >> good to get his insights. phil, stick around, i wonder how present the middle eastern companies and airlines are, given the slow down in oil

prices, are they still at buoyant when it comes to purchasing new planes or dropping off slightly? >> yes no, they're still there. they're still there. look, don't look at what's happening in the middle east in terms of any slow down you're seeing and extrapolate we will see long term drop in demand from the middle eastern carriers they're going to manage their way through this but that's not going to result in them saying we're not buying more planes or going to pause, that's not the case. >> phil, thank you so much for that appreciate it. e-mail the show. "street signs" europe at c flch -- cnbc or tweet me i love reading your tweets in the monday, especially on monday morning. still coming up, live in paris where macron won solid majority in parliament, but low voter turnout reason to worry for the new president? plenty of analysis after the

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it's a new kind of network. xfinity mobile. welcome back to the show sans bury close to a deal to acquire nisa there are media reports, they'll review strategic options, poised to recommend it to members as preferred buyer. german incubator rocket internet out with delivery hero ipo. set to raise a billion euros, plans to sell 39 million shares between 22 and 25.5 euros. it is the first to go public, they hope it will allow them to buy big rivals

and standard life shareholders are voting on merger of the companies. we spoke to martin gilbert earlier in the month about that deal >> we have done this proposal because it diversifies both of us we were very much an emerging market standard life was very well known for its good pension and savings business the merger is great, fund management sector going through head winds, rise and passage of more regulation, fee pressure. being bigger helps common wisdom, you either want to be very big or small. the place not to be is that middle ground where you don't have the revenue 2.8, a billion in profit push these head winds. >> and one person watching this deal for a long time is gem a ak

continue shares are up this morning as far as we tell, the vote today is seen as a formality >> it is vote today for both sides of the deal aberdeen need to approve by 75%, standard life 50%. given the scheme of arrangement. what's more interesting in going to reports over the papers, bring scottish widows into the mix, too >> what would that mean, isn't that a no brainer being that you expect more consolidation? >> look at the share price there's lots of talk about recession and what would be good about it is that life assure, scottish widows, would have big synergies in a merger with standard life, would sort of take care of some of those

issues and help with that scale, talk about consolidation in the industry to give us suitable size to deal with regulatory costs and capital costs coming along, probably would be a helpful thing. there's a long history between scottish widows and aberdeen because aberdeen bought the investment partners and run their fund in 2013 lloyds at that time took a 10% stake in aberdeen. between all of them, there's some relationships there looks like it is something that's quite strongly supported by those who commented so far. >> when you look at the broader industry, does it make sense to be medium sized or small, do you have to be big to survive? >> there's one of the advantages to being big, not least because the pressures are growing. first in terms of fees coming down everywhere, regular day to day running costs. you look at aberdeen and standard life, you see where costs are coming out, 800 jobs

cut to try to remove costs, the ability to do that type of thing which helps. second, regulatory pressures, becoming increasingly expensive. thirdly, technology is expensive, it is more of a feature within the industry. >> the aberdeen up by 3.2%, standard life up by 0.7% thank you so much. let's talk politics. french president macron awarded a solid majority in parliamentary elections, however, the vote has come under criticism for the poor turnout does macron talk about low turnout, he has the mandate no one thought he was going to get? >> reporter: yes, he has a clear mandate after winning 355 seats, which is a strong and clear majority that will enable him to implement his reforms along which reform of the labor market

as you know, he wants to make the labor market more flexible in france, something that has been required from france awhile, especially from brussels he wants to do that and has clear mandate to do it he kept his promises in terms of renewing the french landscape. 223 women in the parliament, historic high. and many that are nonprofessional politicians, that's very new. as you mention, the very low turnout is a problem for emanuel macron in terms of legitimacy, credibility. 58% of voters chose not to turn out at the polls yesterday, that's a problem for the democracy in france. and it was acknowledged by the president of his party take a listen. >> translator: we received those results with a lot of lieu sid tee, responsibility and

especially humility. low turnout amongst our own voters shows us the work that's ahead of us, the prime minister and government to mobilize, gather and reconcile >> reporter: so they're very aware of this difficulty, but at the same time their position appears very much weakened, with weakening of traditional parties. that's low for the leftwing party, and republicans -- the conservative party managed to secure 135 seats, much lower than the 200 they had in the previous tenure. it weakened a position but also a position that will be loud he will face the populous in parliament up until now, she was european, now she's entering and with 30

mps can create a group at parliament all of them make a point in putting as many obstacles as they can as soon as macron wants to start reforms, especially the labor market one. >> let's talk about that labor market reform. we're reading macron wants to fast track through decree, wants it passed by september, but the risk, claire, this will have short term negative impact on consumer confidence and spending i guess his honeymoon period won't last very long, will it? >> reporter: i don't know if it will have impact on consumer spending you find in france political decisions don't have strong impact on economic numbers, such as consumer spending that's been consistently strong in france and has abled growth to remain about 1%, which is not huge but consumer spending has been a huge factor. no, the problem for emanuel

macron could be opposition in the streets because as you remember, the previous government tried to and had a labor market reform voted and brought thousand people on the streets, and trade unions here have said, emanuel macron, should expect no compromise from them, especially if he tries to force the law by end of september. they want to be part of negotiation, and even the more progressive trade union says they will be on the streets if macron tries to force this law and not negotiate with them. carolin? >> thank you so much. moving on, the search for missing u.s. sailors off the coast of japan called off after their bodies were discovered in flooded compartments of uss fitzgerald that collided with a cargo ship friday. this report was filed from japan. >> reporter: the frantic search for seven missing sailors is now

over after divers found their bodies in flooded sleeping cobb ins of the destroyer. >> how much warning they had, i don't know that's going to be found out during the investigation >> reporter: where the cargo ship struck the uss fitzgerald in the middle of the night, a huge gash. as water flooded in, the crew scrambled to keep the ship from sinking. it took 16 hours to tow the uss fitzgerald back to port. it was only then divers were able to access that damaged section to make the discovery. the search now for answers how could an advanced u.s. war ship collide with a cargo ship more than three times its size the weather was clear, the acx crystal on a normal run to tokyo. also in question, the time the collision happened u.s. officials have said the fitzgerald was psychiatrstruck 2:20 a.m but later, said it was closer to

1:30 a.m marine traffic records show the crystal made a u-turn at 2:05. something investigators will look at. japanese investigators say they'll talk to both crews to determine if there was negligence the container ship leased by a japanese firm suffered dents and scrapes, but none of the 20 filipino crew members were injured. several investigations are under way, but the navy says the focus now is on the families of the sailors who were missing and are now gone. >> we owe it to our families and the navy to understand what happened we're going for a quick break. before that, want to show you what's happening with european trade, roughly one hour, 30 minutes into trading session on this monday morning. looks like we're extending friday's gains, what you're seeing is buying across all

sectors led by ought oautos. credit suisse was upgraded and ee con oh up by 5 or 6%. thought to be an amazon bid target, seeing an upgrade coming from exxon that's supporting that stock as well. we are going for a quick break. check out world markets live blog that runs through the european trading day we'll be back in two

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hello, welcome to "street signs," i am carolin roth. these are your headlines european equity opened solidly, green led higher by banking stock. credit suisse was boosted by a number of broker upgrades. shares up after amazon scoops up whole foods. british police say it is too early to tell if a death near a mosque in north london was connected to a van attack on worshippers as a counterterrorism investigation into the motive of these deaths gets under way now hard work begins as david davis heads to brussels to begin brexit talks chancellor phillip hammond says there will be a clean break with

eu. >> we are leaving eu and leaving the single market and by the way, we will be leaving the customs union. good morning, everyone if you're just tuning in, let's show you what u.s. features are up to. looking at a fairly positive picture. s&p 500 up by ten points, dow-jones up 74. and this is after friday on wall street, energy names very much setting the declines in consumer stocks which got pummeled by amazon's deal with whole foods for $13.7 billion. let's look at the european picture here, what you see across the board all sectors in the green seeing strength in banks and industrials and commodities and retailers across the board

acada doing well the pound high as brexit talks get under way. didn't respond much to terror attacks in the mosque overnight. the euro a touchlower against the dollar despite that macron won overwhelming majority in parliamentary elections, that seems to have been priced in. the british police say they'll deploy additional resources to support london based communities following the terrorist attack near finsbury park also confirmed all victims from the incident were muslim the senior national coordinator for counterterrorism said the incident was being treated as a terrorist attack >> the attack unfielded while a man was receiving first aid from the public at the scene, sadly that man has died. any positive link between his death and the attack will form part of our investigation. it is too early to say if his

death was result of this attack. this is treated as a terrorist attack counter terrorism command is investigating. this was an attack on london and all londoners, we should all stand together against extremists, whatever that cause. >> near the scene of the attack, what's the latest? >> reporter: jeremy corbin, leader of the labor party, also mp for this area in north london will be attending prayers at one of the mosques behind me, close to the attack that took place just after midnight last night, involved a white van driven towards pedestrians mounting pavement, knocking some of them down one man was pronounced dead. not convinced yet it was involved as a direct consequence of the attack. 8 people were seriously wounded enough to be taken to three nearby hospitals, two more

treated at the scene we don't have the identity of the man that's undergoing a mental health assessment before being released to custody. we had concern talking about nied for londoners and different faiths to stand united, also a message from the police commissioner who said that london will not be divided by this kind of behavior. politically, carolin, we heard from theresa may, she has given a statement. haven't heard her speak. jeremy corbyn sees it important to come here later today and to join prayers about 200 yards behind me. >> it has been a cuff couple of weeks for the uk, this is the fourth terrorist attack, if confirmed to be one, in three or four months. what are we hearing about police presence that we're still seeing

on the streets of london >> reporter: there's a core done here, stands a few hundred yards back investigators, forensics teams are looking at the scene closely. in terms of more widely, the mayor says there will be increased security in the area as long as the local community needs it and stepped up security at places of worship across london. >> thank you for that. the number of people presumed dead in the london residential tower fire has risen to 58. teresa may government facing criticism how it responded and whether policy changes could have prevented the blaze the local authority didn't have the resources to respond to the disaster. more than 60 dead after a

forest fire rages in portugal. firefighters move through the scene. they believe a lightning strike started the blaze which quickly spread in the dry, windy environment. in other news, brexit talks begin today with negotiator david davis in brussels meeting with the chief eu negotiator davis says over the weekend there should be no doubt we are leaving the european union chancellor phillip hammond spoke to the bbc over the weekend. >> people are leaving the eu, leaving the single market and by the way we will be leaving the customs union. the question is not whether we are leaving customs union, the question is what do we put in its place in order to deliver the objectives which the prime minister set out in the lancaster house speech, having no hard land border in ireland and enabling british groups to flow freely back and forth across the border. new report says goldman,

sachs planning to double staff in frankfurt the bank is readying the move to prepare for brexit on a programming note, blankfein will be on at midnight with video online. jaguar land rover will hire 5,000 to build technology in electric cars. they will hire 1,000 engineers and 4,000 additional personnel most hires based in britain, that's good news for the uk as concerns grow how brexit will impact industry overall. talk more about that topic, how the city in london will be effected with katherine mcginnis, policy chairman of city of london thank you for joining us today let's talk about the banks we're seeing reports about staff being more than doubled at goldman, sachs in frankfurt, does that worry you? are we seeing an exodus? >> i think you have to look at

how many jobs are actually involved yes, of course people need to make arrangements to be out so they can operate day one, at the moment there's a lot of uncertainty. numbers of jobs involved are still actually very low. we are very clear, people want to stay in london in the longer term i think the important thing as government goes into negotiations, bear in mind the needs for the sector we have to know how it works for the economy which involves jobs and growth for the future. >> i guess you can blame international banks and ceos for making contingency plans at this point we don't know whether we look at hard brexit sale or soft we won't find out for two years, it is only intuitive they will be making plans, relocate some business to frankfurt. some of that is unstoppable for

you, right >> it is what they have to do to meet customers' needs and satisfy regulators i go back to the point at the moment it is still jobs in the 2000s, not in multiples, people are telling us they're committed to staying in the longer term. what i think the sector needs is as early as possible an indication we're going to get a transition period. brexit is going to be immensely complicated process. we need certainty to move through it smoothly, without any shorts we need clarity about people and access to the right people for the right jobs, ultimately we need some arrangement providing for as much market access as possible, something which works for europe as well as the uk. >> the prime minister, theresa may, criticized for a lot of things of late, she's had a very difficult month. one of the things she's come under fire for is lack of accessibility when it comes to

big business, when it comes to financial industry working here in london. what are you hearing, is that criticism warranted? do they need more clarity from the prime minister. >> i hope last week's election results have given everybody opportunity to reflect and reset tones going into negotiations. i should say our experience has been government wasn't listening to what we had to say, a question of the actual basis that they go into negotiations on and whether they bear those key needs in the sector in mind. >> where exactly does the city of london, the financial sector need more clarity. what are some of the key points. >> the absolute key point is we have a transition period to have time to get through this, as i said, the other two key issues, access to people and most importantly what the ultimate agreement is looking at something new

just heard single market and unions, look at an arrangement that gives as much possible both ways. >> do you think that will happen they talk about the government manifesto, that's the voice, but there's likelihood we're looking at softer brexit and the uk will never leave the customs union. >> takes a long time for the process. at the moment, you have referendum results and moving toward that, everyone is clearly saying that. important point of business is that while we are going through that complicated process, give as much certainty as possible and enable people to -- >> is two years enough to negotiate a deal a lot of people said when other countries have left certain economic unions, it has taken 27 months, taken much longer than what the uk is trying to do in this very much unprecedented case >> two years is tight. if we all enter into this

negotiations in a calm and pragmatic way and accepting that we need to seek a win-win, something that works for europe as well as the uk, i have every confidence a deal can be achieved it will be difficult zblp recently there's a favorable ruling for city of london when it comes to transfer, clearing of euro denominated derif tiffs. you said europe snotty equipped to deal with the volumes why not? >> it is particularly important from the point of view of costs that you centralize clearing and efficiency, and market stability. if we were to split one currency from the others and 17 other currencies here, you would be introducing unnecessary instability. >> we have to leave it here.

thank you so much. and president trump's personal lawyer says he is not under investigation, despite the president tweeting that he is. the latest from washington after the short break. do sick around -- stick around. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.

welcome back to the show one of president trump's personal lawyers said the president is not under investigation for obstruction of justice. that comes days after a trump tweet saying he is, quote, being investigated that's a lot of confusion. nbc's kelly o'donnell has the latest from washington >> reporter: on this father's day, trumps returning from their first visit to camp david. and back to the heat

the political fever over the russia investigation >> he is not afraid of the investigation, there is no investigation. i want to be clear here. >> reporter: sind morning tv screens, one of the president's personal lawyers going on offense. >> there is not an investigation of the president of the united states period >> contradicting the president's social media admission made friday i am being investigated for firing the fbi director. notably, the president did not repeat that today in a trio of tweets where he denounced the distraction of the witch-hunt. the president's apparent admission, dismissed by his lawyer as just a response to news stories the discrepancy set off sparks. >> you don't know that he is under investigation now, do you? >> well, no one has notified us that he is, so i can't read people's minds >> reporter: he was expected to be the public face of the public defense. a team led by the president's long time new york real estate

layer marc kasowitz and his partner, michael buoy, bringing the heft of experience that are in attorney john doud. this is washington headquarters for the government's team, led by special counsel robert mueller, with about a dozen senior level lawyers hired so far, with experience that includes the fbi and prosecuting white collar, public corruption and financial crimes cases meanwhile, separate inquiries on capitol hill are progressing slowly. >> i can say cat gore i cannily, collusion aspect of the investigation is not over. as far as that goes, i would say we are 20% into it >> business leaders are eager to see what tax changes the trump administration can make happen our next guest says the proposal to cut corporate taxes or pass through taxes for businesses to 15% is too low to get bipartisan support in congress.

my guest, paul riley joins us onset as well great to have you in london as you travel through let's talk about big plans by donald trump he has amazing plans, phenomenal plans as he calls them do you think they'll be put in action >> everyone grease there needs to be corporate tax rate cut, 15% doesn't leave enough for operation of the government. many believe it is a place holder, we'll see as the policy gets spelled out in detail >> financial banks and advisers, stocks rallied tremendously between november, december and part of january on hopes there was going to be a lot of deregulation now it has come back quite a bit. do you see the trump rally inflation or deregulation rally continue or need to see meat on the bone first. >> everyone talked about deregulation of financials and certain stocks that are really

subject to deregulation, impacted by every announcement not much happened. talked about taking out the dol roll i think the markets pulled back saying is deregulation really coming. >> talk about that dol rule. department of labor says it is an influential rule, asking client advisers to act in fiduciary role you think this is not good for the consumer why not? >> the words fiduciary, why not, why shouldn't you do it. like here, disclosure, in canada to disclose your fees, that's fine what the dol, because they didn't have authority, they backed into how they could rule savings accounts, nontaxable accounts the way they did that is the rules do crazy things. for example, a lot of advisers

don't charge on cash or certain assets, you have to charge the same you can't pay your clients' fees they put a lot of process and rules well intended but don't work in reality. the rule should have been fair disclosure, level payment across advisers was fine, but went too far. i don't think they really understood our business. >> across several markets and product types, how difficult to keep hold of regulatory differences from country to country? how much regulatory burden is placed in your company, how much increased in recent years? >> near impossible the world changed so quickly we primarily operate in north america, u.s. and canada in europe, great britain now so keeping up with the different rules or even what they mean for example, as it is implemented, the uk going to hard i am plen tags, france into

softer, in the u.s. they're uncertain, they're not subject to them in the u.s., but if they do it for here, are they going to do it to the u.s., it makes it difficult to say how do we react because we are a global business what do we do. so it does add a lot of burden, especially if you have different methods and regulation in each country, you have to do it differently. >> speaking of the evolution of your business and the industry generally, seems like your company is expanding, more of a distributor by background, moving to asset management stage, et cetera what's the plan. where does the business go from here >> we continue to be wealth managers first, about 80% of our revenue. we report two-thirds if you take the internal asset management, our banking business in north america that's servicing our wealth managers in terms of home loans, securities loans, it is the core of our business in europe, we have been expanding in mergers and

acquisition states, announcement of merger in germany, adding advisers in the uk and that business will continue to expand globally in wealth business we're focused on u.s., canada, and uk. >> is growth going to be coming more from organic or inorganic side, again, u.s. and germany have been active the u.s. buying scout investments. do you feel growth can only come through m and a? >> lot of people said you're growing so quickly, especially in the wealth business i remind them with two big wealth acquisitions, alex brown and remax in canada, grew a number of advisers over four years. without them, organically would have grown 2.7%. that's rampant growth. what's slow growth we look for that 3% moderate growth and only look to acquisitions if there's a strategic niche we need to fill

or it adds to the business alex brown added a business we didn't have enough consistency in that's been successful remax gave us french speaking back office and ability to expand >> you get higher volume, i get that, more aum you add to the business does this come at the expense of margins, margin pressure within the wealth management business around the world is extremely tough. >> it has been extremely tough partly there is pressure on fees as all asset managers say, but the big differential is business rates. markets are expanding in the u.s., rates are rising in the uk, maybe they'll start rising someday. >> still waiting >> i was at a fund forum, there was a lot of talk, couldn't get away from talk about dij tals. and back end digital solutions,

incorporating artificial intelligence there what about the distributor end, how you incorporate ai into distribution into the model. how is raymond james adopting that how are you incorporating technology. >> first, we have been actually a leader in this space at least in the u.s today, wealth managers do everything on the iphone or ipad they can do in the office. we already mobilized that platform in our view in our businesses, clients belong to wealth managers we're there to serve wealth managers so they do good jobs for their clients. now we roll out connected adviser, the same electronic tools you hear from robo adviser. that connection, the company is going to the adviser, not trying to disinter mediate the adviser going around them, we are trying to strengthen them to have that electronic interface

>> is that something you can maintain, keeping the advisers as a human being so many are differentiating. >> the robo adviser, biggest firm, $5 billion seems like a lot of assets, over a decade, that's quickly we hired teams with that much in assets it will take a part of the market i remember when people thought electronic trading would take the adviser out. it is a market segment, but end of the day people save and have families, worried about retirement, college education, how do you pay for everything, they go for financial advice i believe technology needs to be there to communicate but the advice doesn't go away, people have money, lives get more complicated, i don't think they want a robot telling them what to do. >> where do you see markets heading? >> i don't know.

it really depends. if we get through the deregulation in the uk frankly uncertainty, if we get a soft brexit, managed over a period of time, i think markets here will pick up. in the u.s., if there's a little bit of direction and back and direction and back, there's still room, but there's so much uncertainty around the world that's what's keeping the markets contained. >> you're right. you're not the only one saying that paul riley, ceo and chairman of raymond james. quick look at u.s. futures, looking quite positive that's it for today's show carlin roth. "worldwide exchange" is up next. we'll see you tomorrow live-stream your favorite sport,

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good morning breaking overnight a van strikes worshippers outside a london mosque, live at the scene straight ahead. investors kickoff a new week with tech front and center after taking a beating last week your trade coming up. live at the paris air show, one of the biggest planes, the rockwell collins ceo joins us exclusively. "worldwide exchange" begins right now. good morning very warm welcome to "worldwide exchange" on